Charter to use up to $500 million from note sale to repay bank debt

By Sara Rosenberg

New York, July 11 - Charter Communications Inc. anticipates using up to approximately $500 million of the net proceeds from a $1.7 billion senior notes offering to repay indebtedness under one or more of the company's subsidiaries' credit facilities.

Proceeds from the offering will also be used to fund the cash tender offers for a portion of the company's convertible senior notes and a portion of Charter Communications Holdings, LLC's senior notes and senior discount notes.

Charter is a St. Louis cable company.

Susquehanna Media to use existing loans to fund acquisition of RCN cable system

New York, July 11 - Susquehanna Media Co. plans to borrow under its existing credit facilities to fund the acquisition of assets of a cable system located in and around Carmel, N.Y. from RCN Corp. for a purchase price of $120 million cash.

The acquisition is expected to close during the first quarter of 2004, subject to certain conditions and regulatory approval.

Susquehanna Media is a York, Pa. media company.

Wabtec to repay revolver debt with note sale

New York, July 11 - Wabtec Corp. plans to repay outstanding debt under its revolver with proceeds from a $150 million senior notes offering.

In connection with the proposed offering, the company announced preliminary results for the second quarter that included the expectation that at June 30, debt will be about $182 million, compared to$241 million at June 30, 2002.

Wabtec is a Wilmerding, Pa. manufacturer of value-added equipment for locomotives, railway freight cars and passenger transit vehicles.

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